Proceeds in Trust Sample Clauses

Proceeds in Trust. The Debtor shall hold all proceeds in trust, separate and apart from other money, instruments or property, for the benefit of the Secured Party until all amounts owing by the Debtor to the Secured Party have been paid in full.
Sample 1Sample 2Sample 3See All (13)
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Proceeds in Trust. Pending compliance with Clauses 1, 2 and 3 above, to hold the loan proceeds in trust for the Lender.
Sample 1Sample 2Sample 3See All (4)
Proceeds in Trust. All Proceeds from the sale or other disposition of the Collateral hereunder realized by the Secured Party or any agent on the Debtor's behalf shall be held in trust by the Debtor for the Secured Party.
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Proceeds in Trust. Any Proceeds collected by the Company after notice of termination of this Agreement has been delivered in accordance with Section 2.2 shall be deemed to be held in trust for the benefit of UpGyres without deduction for costs or expenses of any nature. The Company shall forward to UpGyres any Proceeds collected after the date of termination within ten (10) days of the termination of this Agreement.
Sample 1
Proceeds in Trust. The Borrower shall and shall be deemed to hold all Proceeds in trust, separate and apart from other money, instruments or property, for the benefit of the Lender until all amounts owing by the Borrower to the Lender have been paid in full;
Sample 1
Proceeds in Trust. The Grantor shall and shall be deemed to hold all Proceeds as mandatary for the Lender, separate and apart from other money, instruments or property, for the benefit of the Lender until all amounts owing by the Grantor to the Lender have been paid in full;
Sample 1
Proceeds in Trust. All proceeds received by the Trustee in consequence of the proceedings described in Section 9 above or in any other way under this Deed, shall be held by the Trustee in trust and shall be used by the Trustee toward the following purposes, according to the following descending order: The Trustee shall first repay or retain such amount as to cover the expenses, payments, levies and obligations it has incurred or that were imposed on it or that were ancillary to or arose from the performance of the trust or from any other matter in connection with the terms of this Deed, including the Trustee’s fees; second, the Trustee will use the remainder to pay the Holders the late interest owing to them under the terms of the Debentures and in accordance with the indexation terms thereof, pari passu and ratably to the amount of interest in arrears owing to each, without any priority among Holders; third, the Trustee shall use the remainder to pay the Holders such amounts of the principal owing to them in accordance with their Debentures, pari passu and in accordance with the indexation terms of the Debentures, regardless of whether the time fixed for payment of the principal has arrived, and ratably to the amounts owing to them, without any priority in connection with the date on which each Debenture was issued or in connection with any other matter; any remainder shall be paid to the Company or any person that may come in its place.
Sample 1
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Related to Proceeds in Trust

  • Moneys Held in Trust Subject to the provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any moneys received by it hereunder except such as it may agree with the Company to pay thereon.

  • Use of Funds in Trust Account During the period prior to the Company’s initial Business Combination or Liquidation, the Company may instruct the Trustee to release from the Trust Account, (i) solely from interest income earned on the funds held in the Trust Account, the amounts necessary to pay taxes, if any, and (ii) to pay Public Stockholders who properly redeem their Public Shares (as defined below) in connection with a stockholder vote to approve an amendment to the Company’s Amended and Restated Certificate of Incorporation (x) to modify the substance or timing of the Company’s obligation to allow redemption in connection with its initial Business Combination or to redeem 100% of the outstanding Public Shares if the Company has not consummated an initial Business Combination within 24 months from the closing of the Offering or (y) with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination activity. Otherwise, all funds held in the Trust Account (including any interest income earned on the amounts held in the Trust Account (net of taxes payable thereon in accordance with the preceding sentence)) will remain in the Trust Account until the earlier of the consummation of the Company’s initial Business Combination and the Liquidation; provided, however, that in the event of the Liquidation, up to $100,000 of interest income may be released to the Company if the proceeds of the Offering held by the Company outside of the Trust Account are not sufficient to cover the costs and expenses associated with implementing the Company’s plan of dissolution.

  • Held in Trust Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed with the Company.

  • Funds Held in Trust Subject to the provisions of Section 11.06, all funds received by the Trustee, until used or applied as herein provided, shall be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any funds received by it hereunder except such as it may agree with the Company to pay thereon.

  • Government Obligations to Be Held in Trust; Other Miscellaneous Provisions Subject to the provisions of the last paragraph of Section 1003, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee--collectively, for purposes of this Section 1305, the "Trustee") pursuant to Section 1304 in respect of the Securities of this series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities of this series and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities of this series, of all sums due and to become due thereon in respect of principal (and premium, if any) and interest, but such money need not be segregated from other funds except to the extent required by law. The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities of this series. Anything in this Article Thirteen to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or U.S. Government Obligations held by it as provided in Section 1304 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent Defeasance or covenant Defeasance.

  • Collateral in Trust The Mortgage Note for each Mortgage Loan is not secured by a pledge of any collateral that has not been assigned to the Purchaser.

  • Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions Subject to Section 8.06, all money and non-callable U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 in respect of the outstanding Notes will be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable U.S. Government Obligations deposited pursuant to Section 8.04 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes. Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to the Company from time to time upon the request of the Company any money or non-callable U.S. Government Obligations held by it as provided in Section 8.04 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(1)), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

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